Re: How to accept donations
From: Mac Thomson (macheartwoodcohousing.com)
Date: Mon, 15 Dec 2008 05:08:33 -0800 (PST)

On Dec 14, 2008, Rob Sandelin wrote:

ANY income you generate from any source is taxable at 15%. This is simply how the tax system works. Unless you spin off a 501C3 as an adjunct to your organization, and this is complex and expensive, any donations made in cash
that get on your books are taxable.


Rob,

This would be NET income, right? So if the donations get spent, there would be no net income and no tax.

Cheers,
Mac

--
Mac Thomson

Heartwood Cohousing
Southwest Colorado
http://www.heartwoodcohousing.com


"A good traveler has no fixed plans and is not intent on arriving."
       - Lao Tzu
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